Economic Outlook

Economic growth in the Western Balkans slowed in 2017, despite the creation of 190,000 jobs in the first nine months of 2017.


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The report looks at the reforms that moved the country’s manufacturing sector toward higher value added production.


Countries in the Western Balkans are seeing an increase in jobs, as growth is picking up throughout the region. Regional growth is expected to reach 2.6 percent in 2017, resulting in the creation of 230,000 jobs through June 2017. Macedonia is estimated to grow 1.5 percent in 2017, before growing 3.2 percent in 2018 and 3.9 percent in 2019.


Economic growth, coupled with job creation, also contributed to a decline in the region’s poverty rate. At 23.6 percent, the projected rate for 2017 is a full percentage point lower than a year ago – this implies that about 124,000 people escaped poverty this year. 



Marco Mantovanelli

Country Manager for Kosovo and FYR Macedonia

Bojana Naceva

Senior Education Specialist, Macedonia

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